Amalgamated General Corporation is a consulting firm that also offers financial services through its credit division. From time to time the company buys and sells securities$.$ The following selected transactions relate to Amalgamated's investment activities during the last quarter of $2024$ and the first month of $2025.$ The only securities held by Amalgamated at October $1,2024$ were $$35$ million of $10\%$ bonds of Kansas Abstractors, Incorporated purchased on May $1,2024$ at face value and held in Amalgamated's trading securities portfolio. The company's fiscal year ends on December $31.$

January $7,2025$ Sold the NXS Corporation common stock shares for $$44$ million.

Required:

Prepare the appropriate journal entry for each transaction or event. Use one summary entry on December $31$ to adjust the portfolio of equity investments to fair value.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to $1$ decimal place, $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Answer is complete but not entirely correct.

$\backslash$table$[[$No$,$Date,General Journ,,Debit,Credit$],[1,$October $18,2($ Investment in equity securities$,(,{58\mathrm{.}0}^{vv},],[,$Cash,,,$58\mathrm{.}0vv$

RECORD THR ENTRY TO ADJUSY THE SECURITIRS TO FAIR VALUE. On december $31,2024$